Bitcoin was predicted to close at $20,000 before the end of 2020 as far back as June this year and in the last two months, the most expensive digital asset continues to toe that valuable path.
According to a report, bitcoin price is expected to worth $20K in 2020, $341,000 by 2025, $397,727 by 2030 and by 2033 BTC is predicted to reach an all-time high of $395,270 ever.
For BTC enthusiasts, that’s possible while the other side who described bitcoin as gamble question how realistic that would be.
Let’s take a look at the forecast of BTC for 2020 to 2033 by a group of researchers at Crypto Research Report released a few months ago who also predicted the future prices of several other major cryptocurrencies like ethereum, BitcoinCash, Stellar, and litecoin.
New Bitcoin Predictions from 2020 to 2033
At the time the prediction was published, BTC was $9, 963 in June and by 2020 end, it’s expected to reach $19,044 and grow astronomically to reach $341,000 by 2025.
It’s estimated that there are over 40 million cryptocurrency users globally, and the number of crypto users in any country is positively correlated to the country’s GDP per capita.
Simply put, a high GDP means more cryptocurrency adoption in the country, according to the report.
Ethereum forecast for 2020 to 2033
Similarly, CRR predicted that ETH is expected to worth $331 by the end of 2020, $3,549 in five year’s time from now and by 2030 ethereum could worth $3,644, but predicted to drop some bucks by 2033, dropping to $3,441.
At the time of this report, Ethereum had already surpassed the forecast of $331, right now, 1ETH is worth $463 on crypto trading platforms.
BitcoinCash Predictions for 2020-2033
According to the forecast, BitcoinCash would be the third most valuable digital asset by 2033, it’s expected to reach $12,941, a sharp drop in its 2030 forecast of $13,016.
By 2025, CRR predicted that crypto enthusiasts should be expecting the value of BitcoinCash to reach $6,690. It’s ….at the trading platform.
Litecoin Forecast 2020-2033
Litecoin which valued $44 as at June 2020, is predicted to reach a value of $83 before we say bye bye to 2020.
Table of forecast for Bitcoin, Ethereum, and 3 others between 2020 to 2033:
|Crypto||Current price||Price Before 2020||Price By 2025||Price By 2030||Price By 2033|
CRR Uses Mill’s Equation of Exchange to Forecast Cryptocurrency Future
It isn’t the first time the Crypto Research Report (CRR) would be publishing future price for bitcoin and other altcoins.
In fact, the crypto research firm’s June edition is its 10th publication in the series using Mill’s equation of exchange model.
It described the model as an absolute approach to valuing crypto assets, giving a target price that crypto-assets should be priced based on assumptions regarding changes in supply and demand.
“The absolute valuation approach is inspired by Mill’s equation of exchange, later formulated by Irving Fisher,” the CRR forecast says.
How CRR came up with Crypto Forecast
The firm stated that it uses the percentage of the total addressable market (TAM) to estimate a crypto asset’s implied future price, arriving at future price estimates for BTC, ETH, LTC, BCH, and XLM.
What determines the volume of digital asset?
The volume of cryptocurrencies is dependent on the following:
- ICO funding,
- Medium of Exchange
- Store of value,
- Online transactions,
- Offshore accounts,
- Reserve currency,
- Crypto trading,
- STO funding
According to the report, the medium of exchange constitutes the largest use case for cryptocurrencies.
“We believe that bitcoin is still at the very start of its adoption curve. The price of $7,200 at the end of 2019 suggests that bitcoin has penetrated less than 0.44% of its total addressable markets. If this penetration manages to reach 10%, its on-discounted utility price should reach nearly $400,000.”
It further stated that on-chain velocity for most coins is decreasing, while off-chain velocity is increasing, currently at an all-time high.
More Speculative Transactions
CRR says that evidence has shown that the growth in speculative transactions on exchanges is faster than the growth in using cryptocurrencies to buy goods and services.
In Nigeria, for instance, there are more speculative traders than those who use it for purchase, when the BTC showed an impressive performance, those who already abandoned their portfolio flooded major crypto exchange platforms in Nigeria as the price surpassed $16K on November 13